Transition agreement must be signed and sealed by end of March.

The CBI has responded to publication of the EU’s guidelines for a transition period with the UK.

Nicole Sykes, CBI Head of EU negotiations, said:

“The UK and EU are largely in agreement on a transition period but any differences, like the UK’s role in regulatory bodies, must urgently be ironed out with an agreement signed and sealed by the end of March.

“A status quo, jobs-first transition deal can give firms of all sizes, here in the UK and across the rest of Europe, the immediate certainty they need to keep investing, so now is the time to get on with it.

“Getting an early agreement on transition will take one big job off the table and allow negotiators to start shaping a future economic relationship which delivers on future jobs and prosperity.

“It’s in everyone’s interests to secure a good deal, and businesses right across Europe can help inform those talks by providing the economic evidence needed to achieve just that.”